CBDT notifies modified return of income to be furnished by a successor entity to a business reorganisation u/s 170A.
The return shall be in the Form ITR-A and shall be furnished electronically under digital signature.
It has been provided that if the assessment or reassessment proceedings for an assessment year relevant to a previous year to which the order of the business reorganisation applies have been completed or are pending on the date of furnishing of the modified return in accordance with the provisions of section 170A, the Assessing Officer shall, pass an order modifying the total income of the relevant assessment year determined in such assessment or reassessment, or proceed to complete the assessment or reassessment proceedings, as the case may be, in accordance with the order of the business reorganisation and the modified return so furnished.
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